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  • deficit spending

    Morning Bell: 5 Issues That Haven't Come Up in the Debates

    Tonight’s presidential debate is the last one that will include questions on domestic policy. The previous presidential and vice presidential debates covered a host of issues, but there are key questions still to be answered. Heritage experts submitted five issues below—with questions—that it is important to discuss before the debate … More

    Socialist Austerity in France

    Francois Hollande won election to the French presidency by promising that more government spending would lead to quick economic growth. He sharply criticized the “austerity”—i.e., sudden spending cuts—proposed by his opponent. A few months later, Hollande has come full circle. In addition to a tax increase that has wealthy French … More

    Chart of the Week: Medicare Spending Is Main Cause of Runaway Deficits

    Medicare is getting quite a bit of attention lately. And rightly so. Out-of-control entitlement spending contributes directly to long-term federal deficits, which will accelerate over the course of the next few decades, according to Heritage’s Federal Budget in Pictures and figures provided by the Congressional Budget Office. By 2030, Medicare … More

    The False Choice Between Existing Medicare and Ryan’s Proposal

    Yesterday, Washington Post columnist Ezra Klein used a recent poll to argue that Americans oppose House Budget Committee Chairman Paul Ryan’s (R–WI) proposal to transform Medicare into a defined-contribution system, where seniors choose the health plan that best suits their needs. But, as always, the devil is in the details. … More

    Brace for Larger Deficits as Lawmakers Rethink Health Care Law's Medicare Cuts

    Obamacare will cost Americans trillions of dollars in the decades to come. To help pay for its new coverage provisions, the plan makes sweeping cuts to Medicare. But as it turns out, serious doubts exist about the likelihood of these cuts actually occurring, and evidence has already shown that lawmakers … More

    White House Shirks Responsibility to Address Medicare Insolvency

    If lawmakers are serious about tackling out-of-control government spending, they have no choice but to tackle entitlements. Medicare, Medicaid, and Social Security are the three largest entitlement programs and together represent 40.2 percent of the President’s fiscal year (FY) 2012 budget. For the sake of comparison, total spending on national … More

    High Speed Funding in President’s Budget Means More Waste of Taxpayer Dollars

    Elected officials in Washington finally seem to get it that something must be done to reduce federal spending. Last week, House Republicans unveiled a plan to cut $74 billion from President Obama’s budget request for this year, and members of the Republican Study Committee have proposed an even more ambitious … More

    Will President Obama Use the State of the Union Address to Go the Distance on Federal Spending?

    During last year’s State of the Union address, President Obama emphasized the need to restore fiscal responsibility in Washington. The federal government racked up a $1.3 trillion deficit in 2010, and the long-term fiscal outlook is even worse. While the average historical deficit stands at 2.9 percent of gross domestic … More

    Republican Earmarkers Already Enabling Higher Government Spending

    After yesterday’s Senate vote against an earmark ban, we again made the case that the damage earmarks do to our nation’s deficits go far beyond the nominal amounts spent on the earmarks themselves. The problem is that the votes earmarks secure from the sponsoring legislators then allow for ever higher … More

    Social Security Shortfall Is Real and Best Addressed Now

    Both liberals and conservatives agree that Social Security’s coming fiscal problems need to be addressed soon or they will only grow worse. A recent analysis for the Pew Charitable Trusts by Charles Blahous, one of the two public trustees of the Social Security and Medicare trust funds, and Robert Greenstein, … More